Sitrin Capital Management LLC Buys 430 Shares of Regency Centers Co. (NASDAQ:REG)

Sitrin Capital Management LLC lifted its position in Regency Centers Co. (NASDAQ:REG) by 0.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,477 shares of the company’s stock after buying an additional 430 shares during the period. Regency Centers makes up about 2.1% of Sitrin Capital Management LLC’s investment portfolio, making the stock its 29th biggest position. Sitrin Capital Management LLC’s holdings in Regency Centers were worth $3,886,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Regency Centers by 18.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 312,155 shares of the company’s stock worth $18,904,000 after acquiring an additional 49,188 shares during the period. Cbre Investment Management Listed Real Assets LLC lifted its position in Regency Centers by 36.9% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 375,952 shares of the company’s stock valued at $25,189,000 after purchasing an additional 101,260 shares in the last quarter. FORA Capital LLC grew its holdings in Regency Centers by 493.7% during the first quarter. FORA Capital LLC now owns 25,061 shares of the company’s stock valued at $1,518,000 after purchasing an additional 20,840 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Regency Centers by 10.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,048,753 shares of the company’s stock valued at $547,995,000 after purchasing an additional 873,062 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its position in Regency Centers by 14.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 116,726 shares of the company’s stock worth $6,998,000 after buying an additional 14,410 shares in the last quarter. Institutional investors own 96.07% of the company’s stock.

Insider Activity

In related news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $70.00, for a total value of $1,750,000.00. Following the completion of the sale, the chairman now directly owns 307,199 shares in the company, valued at $21,503,930. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

Regency Centers Price Performance

Shares of NASDAQ REG traded up $0.52 during midday trading on Friday, reaching $70.41. 785,757 shares of the stock traded hands, compared to its average volume of 1,101,465. The company’s 50 day moving average is $63.93 and its 200 day moving average is $61.54. Regency Centers Co. has a one year low of $56.29 and a one year high of $71.30. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 1.37. The stock has a market capitalization of $12.78 billion, a PE ratio of 34.35, a P/E/G ratio of 5.07 and a beta of 1.21.

Regency Centers (NASDAQ:REG) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.48). Regency Centers had a net margin of 27.60% and a return on equity of 5.63%. The business had revenue of $357.25 million for the quarter, compared to the consensus estimate of $361.56 million. During the same quarter last year, the business earned $1.03 EPS. On average, equities research analysts anticipate that Regency Centers Co. will post 4.21 earnings per share for the current year.

Regency Centers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be given a dividend of $0.67 per share. The ex-dividend date is Thursday, September 12th. This represents a $2.68 dividend on an annualized basis and a yield of 3.81%. Regency Centers’s dividend payout ratio (DPR) is presently 130.73%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Truist Financial decreased their price objective on shares of Regency Centers from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. Mizuho upgraded Regency Centers from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $61.00 to $67.00 in a research report on Tuesday, July 9th. Scotiabank cut their target price on Regency Centers from $68.00 to $65.00 and set a “sector perform” rating for the company in a research report on Thursday, May 16th. Finally, JPMorgan Chase & Co. boosted their price target on Regency Centers from $71.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $71.17.

About Regency Centers

Regency Centers is a preeminent national owner, operator, and developer of shopping centers located in suburban trade areas with compelling demographics. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers.